EverQuote (NASDAQ:EVER) Given New $30.00 Price Target at Canaccord Genuity Group

EverQuote (NASDAQ:EVER) had its price objective hoisted by analysts at Canaccord Genuity Group from $25.00 to $30.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 25.94% from the company’s current price.

Several other analysts have also commented on the stock. JPMorgan Chase & Co. increased their price target on shares of EverQuote from $13.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Needham & Company LLC increased their target price on shares of EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, B. Riley assumed coverage on shares of EverQuote in a report on Friday, April 19th. They issued a “buy” rating and a $24.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $26.25.

EverQuote Stock Performance

Shares of EVER opened at $23.82 on Tuesday. The stock has a market capitalization of $815.36 million, a PE ratio of -15.64 and a beta of 0.85. The company has a 50 day moving average price of $18.53 and a 200-day moving average price of $13.82. EverQuote has a fifty-two week low of $5.36 and a fifty-two week high of $25.69.

EverQuote (NASDAQ:EVER) last announced its earnings results on Monday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. The business had revenue of $91.07 million for the quarter, compared to analysts’ expectations of $80.36 million. EverQuote had a negative return on equity of 34.38% and a negative net margin of 17.81%. The business’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) EPS. Equities research analysts forecast that EverQuote will post -0.36 EPS for the current year.

Insiders Place Their Bets

In other EverQuote news, Director David B. Blundin sold 23,362 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $21.88, for a total value of $511,160.56. Following the completion of the transaction, the director now owns 511,696 shares of the company’s stock, valued at $11,195,908.48. The transaction was disclosed in a filing with the SEC, which is available at this link. In other EverQuote news, CAO Jon Ayotte sold 2,638 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $16.37, for a total value of $43,184.06. Following the sale, the chief accounting officer now directly owns 59,687 shares of the company’s stock, valued at $977,076.19. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David B. Blundin sold 23,362 shares of EverQuote stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $21.88, for a total value of $511,160.56. Following the transaction, the director now owns 511,696 shares of the company’s stock, valued at approximately $11,195,908.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 524,065 shares of company stock valued at $9,544,076. Insiders own 29.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EVER. Acadian Asset Management LLC lifted its stake in shares of EverQuote by 21.3% in the 3rd quarter. Acadian Asset Management LLC now owns 220,251 shares of the company’s stock valued at $1,592,000 after purchasing an additional 38,663 shares during the period. Earnest Partners LLC raised its position in shares of EverQuote by 44.2% in the third quarter. Earnest Partners LLC now owns 1,933,597 shares of the company’s stock worth $13,980,000 after acquiring an additional 592,262 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of EverQuote by 9.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 554,504 shares of the company’s stock worth $4,009,000 after acquiring an additional 45,813 shares in the last quarter. Gilbert & Cook Inc. acquired a new stake in shares of EverQuote during the 3rd quarter valued at about $85,000. Finally, Raymond James & Associates increased its stake in shares of EverQuote by 69.3% in the 3rd quarter. Raymond James & Associates now owns 44,704 shares of the company’s stock valued at $323,000 after purchasing an additional 18,295 shares in the last quarter. 91.54% of the stock is currently owned by hedge funds and other institutional investors.

EverQuote Company Profile

EverQuote, Inc operates an online marketplace for insurance shopping in the United States. The company offers auto, home and renters, and life insurance. The company serves carriers and agents, as well as indirect distributors. The company was formerly known as AdHarmonics, Inc, and changed its name to EverQuote, Inc in November 2014.